NB Distressed Debt Invest. Fd. Ltd Waiver of Investment Manager's Fee (6289S)
March 18 2021 - 02:00AM
UK Regulatory
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RNS Number : 6289S
NB Distressed Debt Invest. Fd. Ltd
18 March 2021
18 March 2021
NB Distressed Debt Investment Fund Limited
(the "Company")
Waiver of Investment Manager's Fee
The Board of NB Distressed Debt is pleased to announce that the
Company's investment manager, Neuberger Berman Europe Limited
("NBEL"), has offered to waive its entitlement to receive fees from
the Company with immediate effect.
Consequently, the Ordinary, Extended Life and New Global share
classes will cease to bear all NBEL fees with immediate effect.
John Hallam, NB Distressed Debt's Chairman, commented:
"We appreciate this gesture, which has been offered by the
investment manager. The fee waiver recognises that it is taking
longer than expected to fully realise the Company's assets due to a
number of factors, including the Covid-19 pandemic, and as we
outlined in our most recent quarterly update. A partial fee waiver
on the smallest share class, NBDD, was already in place, but this
has been replaced with a full fee waiver on all three share classes
to reduce costs for shareholders in our Extended Life and Global
share classes."
The Company will continue to update shareholders on progress of
the remaining assets towards the final distribution date.
LEI: YRFO7WKOU3V511VFX790
For further information, please contact:
KL Communications +44 (0) 20 3995 6673
Charles Gorman nbdd@kl-communications.com
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